BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Stock Short Interest Rises 51.0%

by · The Markets Daily

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 80,661 shares, a growth of 51.0% from the August 31st total of 53,403 shares. Based on an average trading volume of 94,628 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSM. Noble Wealth Management PBC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 7.2% in the second quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock valued at $404,000 after acquiring an additional 4,400 shares during the period. Van ECK Associates Corp boosted its position in BNY Mellon Strategic Municipal Bond Fund by 1.6% during the second quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock valued at $2,605,000 after buying an additional 6,849 shares during the period. Readystate Asset Management LP purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the second quarter valued at approximately $88,000. Petersen Hastings Wealth Advisors Inc. purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $178,000. Finally, Robinson Capital Management LLC raised its stake in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the 2nd quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after buying an additional 41,717 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.9%

Shares of DSM traded up $0.04 during mid-day trading on Friday, hitting $5.25. 26,158 shares of the stock were exchanged, compared to its average volume of 116,402. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.07 and a 52-week high of $6.30. The firm has a 50-day moving average of $5.68 and a two-hundred day moving average of $5.93.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a yield of 6.9%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

(Get Free Report)

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol DSM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other municipal obligations.

The fund’s portfolio may include debt issued by states, cities, counties, and other governmental entities, as well as related public authorities. These securities generally finance public infrastructure and essential services, including schools, transportation systems, utilities, and healthcare facilities.

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